Zwipe, MasterCard team up to combine fingerprint authentication, contactless payments
At a press event last week, MasterCard and Zwipe announced a new type of payment card dubbed the Zwipe MasterCard. Where the new card is different from the the standard credit or debit card is in the payment process, looking to biometrics to approve purchases. The Zwipe MasterCard uses authentication via fingerprint for MasterCard contactless payment terminals, while retaining Europay, MasterCard and Visa (EMV) chips on cards.
BPCE, Twitter preparing to launch money transfers via tweets
Twitter users in France will soon be able to send money to other users by tweeting, according to a report. Groupe BPCE, the second-largest bank in France based on customer numbers, will apparently start providing simple person-to-person transfers of funds within the country, with the sender able to pass funds along to other people without knowing any of the recipient's bank information.
Jack Dorsey encouraged by Apple Pay, does not see it as competition to Square
Square's next generation of payment terminal could allow retailers to accept payments from Bitcoin and Apple Pay, the company head has suggested. In an interview, CEO Jack Dorsey explained that a future version of its cash register system will be able to accept a number of different payment types, on top of the current credit card payments it currently works with.
Coin extends card replacement beta to more users, removes extra cost
Digital credit card replacement start-up Coin has changed the requirements for its extended beta trial, as part of an apology for its heavily-delayed release. A message to backers advises it is extending the beta from 10,000 backers to 15,000 backers, and by making it available at no cost, it is also effectively removing the $30 "fee" for taking part in the trial.
Coin asks backers to test card before public launch
Payment startup Coin is expanding its base of testers for its digital credit card replacement from 1,000 to 11,000 people. The crowd-funded project, which consists of a plastic card with a screen capable of storing various payment card details and can be swiped at ATMs and payment terminals, is attempting to fix as many issues as possible before it makes the card publicly available.
Subscription via Amazon payment platform intensifies competition with PayPal
Amazon is expanding the reach of its payment platform, by providing subscription-based payment options to customers, claims a report. Keen to take on PayPal, the retailer is said to be launching the service later today, which will let start-ups and other companies charge a monthly fee, such as a mobile phone bill or music subscription, to cards stored to a customer's Amazon account.
Irish regulatory approval could be granted to Facebook within weeks
Facebook is working to provide financial services, such as allowing users to send money to each other, according to a report. The social network is said to be applying to regulators in Ireland to begin offering money storage and transmissions, something which could receive approval within weeks, and would directly place Facebook in competition with PayPal, Google Wallet, and other similar services.
Systems consisting of Kindle Fire tablet, card reader could head to stores this summer
A pair of reports claim that Amazon is moving further into the payments market, from two different directions. One plan involves offering retail stores a point-of-sale system using Kindle tablets, while another involves the creation of a system for person-to-person payments, in a similar service to that currently offered by payment processing competitor PayPal.
Trial in April follows change in UK banking legislation
Banks and building societies in the United Kingdom are considering allowing customers to pay in checks using smartphones, the UK Treasury has announced. The change, which would involve bank customers to photograph a check using a smartphone instead of taking it to branch, could be implemented as part of a new Check 21 law, with the first trial of the system set to begin in April.
Channel 4 on-demand video service reaches Roku, Now TV streaming devices
4oD, the on-demand video service from British broadcaster Channel 4 is now available to use on the Roku and the Now TV streaming set-top boxes in the United Kingdom. The on-demand offering from Channel 4 accompanies similar services such as the BBC iPlayer and Demand 5 on the devices, as well as Sky's own Now TV prepaid Internet-based satellite television service.
Visa takes on PayPal, Google Wallet with online payments system
Visa has launched its online digital wallet in parts of Europe, one it initially announced in April last year, as the company tries to take on PayPal and Google Wallet. V.me by Visa is able to store payment details for multiple cards, which can then be used to make payments with retailers online instead of providing debit or credit card details.
Buyout to bolster PayPal capabilities
eBay has agreed to acquire Braintree, a company that specializes in payment systems, for approximately $800 million in cash. The startup will initially operate as a separate division under eBay's PayPal division, which has served as a dominant competitor in the payment-services market.
Developer kit to allow Card.io-based credit card scanning
Payment service PayPal has launched a new software development kit for Android. Following on from the iOS version launched in March, the Android SDK will allow developers to integrate PayPal payments into their apps, providing them with an alternative payment processing system to Google Play, and the option to pay for in-app items or services by credit or debit card.
Google Wallet Card could have acted as credit card proxy
Google is dropping its proposals to augment its Google Wallet payment system with a physical card, ahead of changes expected to be announced at Google I/O, according to reports. The news comes at the same time as the head of Google Wallet itself, Osama Bedier, will be leaving the company to pursue "other opportunities."
Initial roll-out in UK uses new Chip & Pin device
PayPal is rolling out a new version of its Here mobile payments system for Europe. Starting in the UK, the payments service will be providing businesses a pocket-sized device that will offer Chip & PIN protection for payments through a retailer's mobile phone, instead of the triangular attachment used in the United States.
Mobile payments deemed 'fundamentally unprofitable'
Payment processor VeriFone is withdrawing from the mobile card payments market, citing "razor-thin margins." The decision to shutter Square-competitor Sail came to light during a quarterly conference call, with CEO Doug Bergeron calling the market for low-volume merchant processing as "fundamentally unprofitable."
Mobile payment system increases by five times in one year
Mobile payments system Square has reached a total of $10 billion in payments for the year. The company has increased its rate of payments from $5 billion in the sprint, and is up from the $8 billion figure two months ago. At this time last year, Square was passing just $2 billion in payments per year.